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CNBC
Dec 12, 2012 3:00pm EST
. maria is off today as we welcome you to "closing bell" as ben bernanke wraps up his final news conference of 2012 after the fed's two-day meetings in which they agreed to continue to buy treasury securities and mortgage-backed securities, but the new wrinkle now in monetary policy that we all heard about today was a new kind of target. he called it a guidepost. to this point they said they would keep the fed funds rate at around 0% until 2015. now they say they will keep it there at least until the fed funds rate drops to 6.5%. it's currently at 7.7%, and while he was talking, mandy, the market lost ground. >> absolutely. let's take a look right in front of you. what you've got is the dow sitting right there on the line. it did actually drop negative just in the last five, ten minutes. we were at the highs of the day around 81 points to the positive on the dow. and then we really watched as ben bernanke was speaking the market lose its steam. the nasdaq also went negative where it is right now, and, you know, bill, i guess we'll ask our guests what it is that the market was dis
CNBC
Dec 13, 2012 3:00pm EST
down. >> ben bernanke's latest move to stimulate the economy, is it actually hurting things? steve liesman and rick santelli tackle it out next. >> oh, boy. and we'll hear from a top republican lawmaker warning that the real fiscal cliff is a couple years away when the economy could collapse because of runaway spending. congressman paul brown will join us. >> and top picks for 2013. you'll never guess what stock he likes the most. >> hmm. >> back in a moment with that. [ male announcer ] with wells fargo advisors envision planning process, it's easy to follow the progress you're making toward all your financial goals. a quick glance, and you can see if you're on track. when the conversation turns to knowing where you stand, turn to us. wells fargo advisors. [ male announcer ] you build a reputation by not breaking down. consider the silverado 1500 -- still the most dependable, longest-lasting full-size pickups on the road. and now we've also been recognized for lowest total cost of ownership -- based on important things, like depreciation, fuel, and maintenance costs. and now trade
CNBC
Dec 10, 2012 3:00pm EST
more about ben bernanke. if we go off the fiscal cliff, it shows the irony of how the feds balance sheets isn't addressing the problem. it isn't addressing unemployment. one hand of the government is trying to do something that isn't working and the other hand is shooting in the foot. i think this is going to be interesting listening to bernanke on wednesday. >> ben has already put it out there there's not a lot the fed can do if we go off the fiscal cliff. you speak to a lot of smart people, rick santelli. >> and he's a smart person as well. >> to feel it's going to be a year of strong dollar or weaker dollar. i ask this because so many companies during their latest earning season have pointed to the strong dollar as a real problem for them if they're a multinational. >> i think the relationship between all the developed countries using printing presses like the dollar, yen, euro, are close to levels and ranges we'll see next year. i think in some of the asian currencies we need to pay more attention to. you can only swim so far in a round pool without banging the edges. that's wh
FOX Business
Dec 12, 2012 3:00pm EST
. >> fed chief ben bernanke, he should have quit at hello. the market lost all of their games plus a point. 6.5%, that is the point say unemployment rate at which ben bernanke says any future rate moves will now be tied. a news conference in washington, he emphasized his top priority now shoring up the job market. the decision to live up the printing presses in january. the fed investors said they will not stop buying bonds until they drop. 85 alien dollars and we created money each and every month, 45 billion of that put in longer dated treasuries. by mortgage-backed securities. dow jones industrials really straddling the flat line. up more than 81 points after the announcement of markets like this announcement and started to take a second look. the nasdaq has been down most of the day. investors gave the plan a thumbs-up and saw stocks at their best levels since october but giving up the games as you see, what went on. big intraday swings around 12:30 p.m. eastern when the fed made the decisions known. take a look at the financials, giving us a sense of how sensitive it got. as you
CNBC
Dec 12, 2012 4:00pm EST
he answers this. >> i'm smiling for you, bill. >> i think first we have to realize that ben bernanke really has no idea what he's doing and must admit that his policy that's been in place now for four years of free money and 0% interest rates has really produced a very poor employment picture. let me prove my point. the november non-farm payroll report, we actually lost 22,000 jobs in the goods-producing sector. how could that be after four years of 0% interest rates? labor force participation rate, falling. the employment-to-population ratio falling and the key demographic of 25-55-year-olds, that demographic, they are leaving the workforce. >> michael, i get the feeling you're not a huge fan of ben bernanke. what would you do if you're the chairman then? >> if i was the fed chairman i would resign and realize that 12 people have absolutely no idea what the cost of money should be. the most important mechanism, symbol in a free market economy is the cost of money, and they have no idea telling us what that price should be. >> price mccain, help us out here. what's your expectation in the f
CNBC
Dec 13, 2012 4:00pm EST
yourself with 2013 with so much influence by ben bernanke. what happens between the president and john boehner in an hour >> narrator: what are the pros expecting in 2013? dan greenhouse is with me and also the chief economist with ihs global insight joins me. good to have you on the program, gentlemen. thanks so much for joining us. >> thank you. >> thanks, maria. >> dap, you think the fed captain really do much on the fiscal cliff? do you think the fed should have done without -- should have done what it did yesterday in terms of basically create more -- more stimulus? >> well, no, i don't think they should have done what they did yesterday, but that's a separate issue from the fiscal cliff, i think, and, you know, ben bernanke has been quite clear and quite frankly economists in general are quite clear about arguing there's very little the federal reserve can do to even partially offset the worst effects of the cliff should it actually happen. >> let me ask you your take on 2013. we know if we go over the cliff there are expectations that we'll see a recession, at least in the
CNBC
Dec 6, 2012 4:00pm EST
what ben bernanke does. i think his programs have long since not really helped the employment side, but the fiscal cliff is doing obvious damage. that's going to make what everybody knows is coming. we ran out of two years to sell. they're going to go from a twist to outright purchases. it's fully built into the market, but it isn't going to help. the fiscal cliff is going to do more damage to the psyche of job creation than anything that ben bernanke can do. >> any expectations in terms of the jobs numbers? what do you look for? >> we're looking for better than expected. rit, the sandy effect will be there. you should see actually better job growth next year, and that also becomes that second catalyst into the marketplace that could put the s&p at an all-time high next year. >> what about the fiscal cliff though? if we take out the mortgage deduction, which is being hotly debated in terms of the exemptions and loopholes, does that stop this housing recovery in its tracks? >> if you pick a midpoint between 0% and 3.5% and call it a fiscal slope, 1.5% drag next year is equivalent to
FOX Business
Dec 11, 2012 3:00pm EST
. we're looking toward the fiscal cliff, possibly ben bernanke comes out and says more. it seems everyday we don't have a fiscal cliff deal we actually go higher in the stock market. i think we would go lower heading toward the deadline. the market looks strong, apple looks strong. $50 billion in revenue possible. we do look strong. coleman offers 1700 level. lot of activity in december. and they're expecting a huge move in the next week and a half. liz: no real fear in the market, so pretty significant blows around 15. bond yields are not doing anything exciting. do you look at that and say i am in? or do you say the fear trade is over? >> always at the volatility index and that is one of the gauges a look at it daily basis. basically levels of the s&p 500 futures the highest since obama was elected presidency. we sold awfully hard, we got back and possibly took some stocks off. we're reversing a little bit from the upside, selling off a little bit. the fiscal cliff are the two words that will be mentioned the most. we have costco earnings tomorrow, we'll keep an eye on that one. liz: is
CNBC
Dec 11, 2012 4:00pm EST
. ben bernanke grabbing the spotlight on wall street tomorrow. he's expected to announce additional treasury buying. our panel next telling us how that will impact your money. back in a moment. [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. additional treasury buying. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. >>> welcome back. we have breaking news on the fiscal cliff negotiations. eamon? >> we have a statement from john boehner's office. they're saying that they have made a counter proposal now to the white house. let me read you the statement. they say, we sent the white house a counter offer that would achieve tax and entitlement reform to solve our looming debt crisis and create more amer
Search Results 0 to 8 of about 9